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Business News

Capital market skills not transferable – NSE chief

@nsenigeria CEO, Oscar Onyema, has clamoured for distinctive set of skills to further the growth of the capital market. Onyema said the fourth industrial revolution has made the global race for talent more competitive.

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Nigerian Stock Exchange, NSE CEO Oscar Onyema, NSE Graduate Trainee Programme, NSE, VAT, Financial market data gulps $28.5 billion from stakeholders, says NSE , NSE lifts R.T. Briscoe’s shares suspension , NSE lifts suspension on Guinea Insurance’s, Niger Insurance’s shares , NSE to implement new free float rule from Jan 2 

The Chief Executive Officer of Nigerian Stock Exchange (NSE), Oscar Onyema, has clamoured for distinctive set of skills to further the growth of the capital market.

He said the fourth industrial revolution has made the global race for talent more competitive.

Onyema, who made the call in his speech at the graduation ceremony of the 2019 set of the Graduate Training Programme (GTP) held on Tuesday, said the NSE is making giant strides in the right direction by building streams of talent for the capital market through the GTP.

[READ ALSO: As economy bites, companies use ‘shrinkflation’ to rip off Nigerians]

The Programme was launched in 2015 to cater for the young generations (26-years and below) looking to be among capital market leaders in the future.

Nigerian Stock Exchange, NSE CEO Oscar Onyema, NSE Graduate Trainee Programme

L – R shows Mr. Folusho Phillips, Chairman, Phillips Consulting Limited; Chioma Dennis, Trainee of the Year 2019 and Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE) during the NSE GTP Class of 2019 Graduation Ceremony and Dinner on Tuesday July 30, 2019 at the Civic Center, Victoria Island Lagos.

Speaking on the GTP, Onyema said: “The NSE Graduate Trainee Programme is our quest to educate and make employable young and bright Nigerians who can help shape the future of our market and this country, by nurturing them and providing them with the enabling environment to flourish as we recognise that for Nigeria to thrive we need such young leaders who would spark innovation in every sector of the economy.

“The speed and complexity of change in financial markets today means that we can no longer rely solely on the education sector for specialist human capacity development. The fourth industrial revolution has placed added responsibility on the capital market with the emergence of new technologies like blockchain, tokenisation, and cloud computing to mention a few.

[READ ALSO: Dangote Refinery, Lekki Deep Sea Port turn Ibeju- Lekki to preferred destination for investors]

“The revolution has made the global race for talent more competitive for corporates to foster an environment in which young graduates can be equipped with requisite skills, necessary to build a sturdy professional foundation and propel them to become thought leaders and captains of industry.

He said certain skills are not transferable but must be taught.

“The unique role played by exchanges requires a distinctive set of skills that are not easily transferrable from other sectors of the financial industry. Hence, the NSE Graduate Trainee Program has been specially designed to fulfill a demand for specialist skills by providing the appropriate talentfit for The Exchange to achieve its strategic business aspirations,” Onyema concluded.

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Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Energy

LNG boss tasks FG to begin the monetization of Nigeria’s gas

Mr Attah has urged the FG to take the gas sector more seriously as the future of Nigeria’s energy lies with it.

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The MD and CEO of Nigeria LNG Limited Mr. Tony Attah has tasked the Federal Government to begin the revamping and monetization of the Gas sector in Nigeria.

He made this statement while making his presentation at the 2nd virtual Nigerian Gas Association (NGA) Industry Multilogues, with the theme: “Powering Forward, Enabling Nigeria’s Industrialization via Gas.”

Mr. Tony Attah drew the attention of the audience to the hidden treasure in the Nigerian Gas industry which he believes is not getting enough attention from the government.

On the future of gas as an alternative energy source, Mr. Attah stated that the developed world is already keying into gas as an alternative to crude oil. Gas has proven to be a cleaner and more sustainable alternative.

He exclaimed that Nigeria is very rich in gas and yet poor in energy. Nigeria is the 9th country with the largest gas reserves in the world but makes very little use of it.

Mr. Attah went further to paint a clear picture of the promise of investing in gas using the success achieved by Qatar. Qatar is currently the largest LNG exporter in the world.

We just touched on a quick case study of Qatar. Someone mentioned Qatar already from a poor fishing country to a gas giant and it took just 10 years, which is why we, as Nigeria LNG, firmly believe in the conversation and the narrative about the declaration of the decade of gas.

“We believe it is possible. If you look at Qatar from 1995, when they really went into gas development, we were just two years behind Qatar. So, Qatar’s first LNG was in 1997.

Nigeria’s first LNG was in 1999, just two years behind. But then, within 10 years, because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best, 22 million tonnes,” Attah said.

Mr. Attah stressed further the importance of the gas sector in Nigeria’s future. He recalled that the Nigerian Government declared 2021-2030 as the decade of gas. He pleaded with the government to take the sector more seriously as the future of Nigeria’s energy lies with it.

Gas is the future. That future is now, and just as the Minister of State has made us to realize, gas is food in fertilizer. Gas is transport as you saw in the Auto gas project that was declared.

Gas is life, as a matter of fact, for cooking, for heating, for existence. Gas is development in manufacturing, gas is power. Gas is everything. “We think it’s time for gas. It’s time for Nigeria to diversify and that is why we fully support the decade of gas,” he said.

What you should know

  • Early last year, the director of the Department of Petroleum Resources (DPR) Mr Sarki Auwalu confirmed that Nigeria’s proven gas reserve stood at 203.16 trillion cubic feet.
  • Nigeria has the 9th largest gas reserves in the world. It is also the 6th largest exporter of gas.
  • The Federal Government declared the year 2021–2030 as the “Year of the Gas“. It pledged to finally kick start the development and commercialization of Nigeria’s huge gas reserves.

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Obituaries

Ex-Diamond Bank chairman, Seyi Bickersteth is dead

The death has been announced of Seyi Bickersteth, a former chairman of Diamond Bank Board of Directors.

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Erstwhile chairman of Diamond Bank Board of Directors, Mr. Seyi Bickersteth is dead.

According to multiple sources, Mr Bickersteth was found dead in his Ikoyi apartment. The cause of his death is yet to be unravelled as at the time of reporting this.

Until his death, Mr Bickersteth was a Regional Managing Partner and Chairman of Andersen Tax, Africa. According to his LinkedIn profile, he started his career at Arthur Andersen as a partner and rose through the echelons to his most recent position, in a career that spanned over forty years.

Mr Bickersteth is an alumnus of the famous University of Ibadan and York University, Canada where he obtained a Bachelor`s and Masters’ degrees in Economics respectively. He is a fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Chartered Institute of Taxation of Nigeria (FCTI).

Mr Bickersteth was most remembered for his pioneering role as a team leader of Arthur Anderson team in the 1988 International Merchant Bank (IMB) restructuring exercise. He served in various leadership positions and Boards in top firms like; KPMG, ARM and the defunct Diamond Bank.

Nairametrics had earlier reported the resignation of Mr Bickersteth from the Board of Diamond Bank in 2018.

Details of his burial and other relevant information will be subsequently communicated.

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